Critian Camilo is a young man of nineteen who is looking to obtain income by making clothing for third parties. He learned this trade by doing seasonal work on alterations and garment finishing. Thanks to his savings, he bought his first sewing machine and overlock machine and was able to start his business. Now, he is looking to buy a coverstitch sewing machine so that he can offer full service tailoring to his customers. (Since he does not offer this service, customers are opting to do business elsewhere). Cristian Camilo dreams that, with the progress of his business, he can produce his own line of shirts.
Cristian Camilo es un jóven de 19 años que busca obtener sus ingresos a través de la confección de prendas de vestir a terceros. La actividad la aprendió dando apoyo por temporada a la revisión y acabado de prendas. Gracias a sus ahorros compró su primera máquina plana y la fileteadota con lo cual pudo iniciar su negocio. Ahora, busca comprar una máquina recubridora con la cual pueda ofrecer el servicio completo de confección a todos sus clientes, quienes por no tener este servicio optan por realizar sus trabajos con otras personas. Cristian Camilo sueña, que con el progreso de su negocio, pueda producir su propia línea de camisetas.
This loan is structured on Kiva as a bullet loan, which means a single payment is required at the end of the loan term. By Colombian law, Kiva's partner Interactuar is required to offer borrowers loans with a variable interest rate that fluctuates with the market rate. Because fixed monthly payments are applied first to interest and then to principal, Interactuar is unable to predict upfront what portion of each repayment would go towards the loan principal. This creates a challenge with Kiva's system, which doesn't allow for unpredictable principal payments, and can result in some Interactuar clients appearing falsely delinquent. To remedy this, the loan has an end-of-term repayment plan on Kiva, but the borrower will continue scheduled monthly repayments to Interactuar, who will then pass along the principal amount to Kiva lenders. This means that you may see repayments made on this loan throughout the repayment term, as opposed to receiving repayment in full at the end of the loan term.